Requirement 2. Report the company's stockholders' equity at Decentock J1, 2022. Net income for 2022 was $24,000. (Enter the accom Madrid Jewelry Company Balance Sheet (partial) December 31, 2022 Stockholders' Equity: shares Total paid-in capital Total stockholders' equity S S par par shares shares shares

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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Feb
Jun
Jun
Aug
$
13 Issued 5,000 shares of common stock for $13 per share.
7 Declared the regular cash dividend on the preferred stock.
24
Paid the cash dividend.
9
Declared and distributed a 10% stock dividend on the common stock.
Market price of the common stock was $18 per share.
Reacquired 400 shares of common stock as treasury stock, paying $20 per share.
Oct 26
Nov 20 Sold 100 shares of the treasury stock for $21 per share.
Dec
31
Declared a cash dividend of $0.30 per share on the outstanding
common stock; dividends will be paid in January, 2023.
Stockholders' Equity:
shares
Total paid-in capital
Total stockholders' equity
$
par
par
shares
X
shares
shares
Dala
Assets
Current assets
Property and equipment, net
Total assets
Liabilities and Equity
Requirement 2. Report the company's stockholders' equity at Decentecy JJ, ZU22. Net income for 2022 was $24,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.)
Madrid Jewelry Company
Balance Sheet (partial)
December 31, 2022
Liabilities
Stockholders' equity:
$0.20 cumulative preferred stock, $15 par, 300 shares issued
Common stock, $1 par, 5,700 shares issued
Paid-in capital in excess of par-common
Retained earnings
Total liabilities and equity
$
$
$
$
33,500
56,900
90,400
37.900
4,500
5,700
17,300
25,000
90,400
Transcribed Image Text:More info Feb Jun Jun Aug $ 13 Issued 5,000 shares of common stock for $13 per share. 7 Declared the regular cash dividend on the preferred stock. 24 Paid the cash dividend. 9 Declared and distributed a 10% stock dividend on the common stock. Market price of the common stock was $18 per share. Reacquired 400 shares of common stock as treasury stock, paying $20 per share. Oct 26 Nov 20 Sold 100 shares of the treasury stock for $21 per share. Dec 31 Declared a cash dividend of $0.30 per share on the outstanding common stock; dividends will be paid in January, 2023. Stockholders' Equity: shares Total paid-in capital Total stockholders' equity $ par par shares X shares shares Dala Assets Current assets Property and equipment, net Total assets Liabilities and Equity Requirement 2. Report the company's stockholders' equity at Decentecy JJ, ZU22. Net income for 2022 was $24,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Madrid Jewelry Company Balance Sheet (partial) December 31, 2022 Liabilities Stockholders' equity: $0.20 cumulative preferred stock, $15 par, 300 shares issued Common stock, $1 par, 5,700 shares issued Paid-in capital in excess of par-common Retained earnings Total liabilities and equity $ $ $ $ 33,500 56,900 90,400 37.900 4,500 5,700 17,300 25,000 90,400
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